Mediolanum International Funds Ltd Has $41.36 Million Stake in CRH plc (NYSE:CRH)

Mediolanum International Funds Ltd raised its position in shares of CRH plc (NYSE:CRH) by 11.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 447,891 shares of the construction company’s stock after acquiring an additional 45,664 shares during the period. Mediolanum International Funds Ltd’s holdings in CRH were worth $41,364,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CRH. Sunbelt Securities Inc. grew its stake in shares of CRH by 3,320.5% during the first quarter. Sunbelt Securities Inc. now owns 1,334 shares of the construction company’s stock valued at $115,000 after purchasing an additional 1,295 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of CRH by 30.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,651 shares of the construction company’s stock valued at $574,000 after purchasing an additional 1,558 shares during the last quarter. Fifth Third Wealth Advisors LLC bought a new position in CRH in the first quarter valued at approximately $485,000. Kathmere Capital Management LLC boosted its stake in CRH by 29.3% in the first quarter. Kathmere Capital Management LLC now owns 13,168 shares of the construction company’s stock valued at $1,136,000 after acquiring an additional 2,985 shares during the last quarter. Finally, Cannon Global Investment Management LLC boosted its stake in CRH by 50.8% in the first quarter. Cannon Global Investment Management LLC now owns 9,800 shares of the construction company’s stock valued at $845,000 after acquiring an additional 3,300 shares during the last quarter. 62.50% of the stock is owned by institutional investors.

CRH Stock Up 1.4 %

Shares of NYSE:CRH traded up $1.27 during midday trading on Friday, reaching $92.87. 459,148 shares of the company were exchanged, compared to its average volume of 4,904,667. CRH plc has a fifty-two week low of $51.59 and a fifty-two week high of $94.14. The stock has a fifty day simple moving average of $89.40 and a two-hundred day simple moving average of $82.85. The firm has a market cap of $63.77 billion, a PE ratio of 15.24, a P/E/G ratio of 1.30 and a beta of 1.30.

CRH (NYSE:CRH) last issued its quarterly earnings data on Thursday, August 8th. The construction company reported $1.85 EPS for the quarter, hitting analysts’ consensus estimates of $1.85. The company had revenue of $9.65 billion for the quarter, compared to analyst estimates of $10.16 billion. As a group, analysts forecast that CRH plc will post 5.44 earnings per share for the current year.

CRH Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Wednesday, September 25th. Shareholders of record on Friday, August 23rd were paid a $0.35 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a yield of 1.7%. CRH’s payout ratio is currently 26.46%.

Analyst Ratings Changes

CRH has been the topic of a number of recent research reports. DA Davidson raised their price objective on shares of CRH from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Truist Financial increased their target price on shares of CRH from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, August 9th. StockNews.com lowered shares of CRH from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Citigroup cut their target price on shares of CRH from $109.00 to $99.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Finally, Morgan Stanley upgraded shares of CRH from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $87.00 to $88.00 in a report on Tuesday, July 9th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.70.

About CRH

CRH plc, together with its subsidiaries, provides building materials solutions in Ireland and internationally. It operates through four segments: Americas Materials Solutions, Americas Building Solutions, Europe Materials Solutions, and Europe Building Solutions. The company provides solutions for the construction and maintenance of public infrastructure and commercial and residential buildings; and produces and sells aggregates, cement, readymixed concrete, and asphalt, as well as provides paving and construction services.